This is the big reason while the stock is moving today:
GMGC + 4 19/32 on 13.3M shares in volume
They announced today that the Portical(formerly known as Serengety) will be commercially avalable July 30th. This is a huge product that even Microsoft jumped on their bandwaggon and invested $6M in GMGC along with partnering with GMGC on several Microsoft software fronts.
ALMI has a technology agreement with GMGC thus the move in ALMI on the coatails of GMGC today. Here is the release :
NEWS
For Immediate Release
Press Inquiries:
Michelle Knoop +1 415 904 7070
Access Communications
mknoop@accesspr.com
Investor Inquiries:
Don Markley +1 415 986 1591
The Financial Relations Board, Inc.
dxm@sf.frbd.com
Alpha Microsystems Inquiries:
Denny Michael +1 714 641 6373
dmichael@alphamicro.com
Marnie Butler +1 617 926 6665
Sterling Hager, Inc.
marnie@sterlinghager.com
General Magic Signs Exclusive Licensing Agreement With Alpha
Microsystems
AlphaCONNECT technology to bring Serengeti users ready retrieval of business information
from the Web
SUNNYVALE, Calif. (December 9, 1997) General Magic, Inc. (Nasdaq:GMGC) has signed an
exclusive licensing agreement with Alpha Microsystems (Nasdaq NM: ALMI) for the use of a
product utilizing AlphaCONNECT(R) technology. The technology will allow Serengeti users to
readily retrieve Web-based business information such as company news and stock quotes in a
user-friendly format. Financial terms and conditions of the agreement were not disclosed.
General Magic will be demonstrating the Serengeti service at Fall Internet World in the General
Magic and AlphaCONNECT exhibitor booths in New York on December 10 - 12 (Galleria Meeting
Room 5 and Booth 782, respectively).
Serengeti is General Magic's upcoming communications and information application that provides
mobile professionals access to their most critical information. It integrates voice mail, e-mail, faxes,
address book and calendar, and also provides access to public information such as news, stock
quotes and company information. Serengeti is designed to be accessible by any kind of telephone or
Web browser, which will enable subscribers to keep in touch with the people and information
important to them at any time, from any location.
With AlphaCONNECT technology, Serengeti users will be able to retrieve late-breaking information,
such as company news or stock quotes, available through General Magic's contracted information
providers, while they are on the road. Users will also have the advantage of making real-time queries
about companies, getting up-to-the-minute information quickly. AlphaCONNECT technology filters
the business information that Serengeti receives via direct satellite feeds and the Internet. It then
integrates that information into a single, streamlined format and prepares it for immediate delivery to
the subscriber.
"With the sophistication of AlphaCONNECT technology, Serengeti users will be better informed, and
more competitive, by having immediate access to the very latest business information," said Steve
Markman, chairman, president and CEO of General Magic. "Embedding Alpha Microsystem's
technology into Serengeti will give users the advantage of streamlined information from the Internet
- all easily accessible through our friendly voice user interface over the phone, or through a Web
browser."
The agreement between General Magic and Alpha Microsystems further demonstrates General
Magic's commitment to becoming a leader in integrating voice and data applications and setting
industry standards by which all other voice technologies and applications are measured.
"We are very pleased to be working with General Magic and are excited about continuing to provide
AlphaCONNECT technologies that enhance the Serengeti product," said Doug Tullio, president and
CEO of Alpha Microsystems. "With its voice user interface, Serengeti ideally demonstrates how our
data management technology can be tailored to achieve a variety of goals. As in the case of our
agreement with General Magic, our technology extends the value of the Serengeti service, and
exemplifies the direction of the AlphaCONNECT division, which is to provide customized solutions
to key industry leaders."
In accordance with U.S. securities law, General Magic notes that this press release contains
forward-looking statements. There are risks that may cause actual results to vary materially. These
risks include, but are not limited to, reliance on key technical and management personnel,
complexities inherent in the development of new technologies, timely performance by third party
suppliers, and competitive pressures with respect to product quality, functionality and
cost-effectiveness. Additional risk factors are detailed in General Magic's 1996 10-K and its third
quarter 1997 10-Q filed with the Securities and Exchange Commission.
About General Magic
General Magic offers products and applications that integrate voice and data communications. The
company's solutions employ innovative user interface technology to provide simple yet effective
ways for people to communicate, conduct business, and keep track of their lives no matter where
they are. Founded in 1990, the company is headquartered in Sunnyvale, California. For more
information on General Magic, please visit the company's Web site at www.genmagic.com.
About Alpha Microsystems
AlphaCONNECT(R), a division of Santa Ana, Calif.-based Alpha Microsystems (Nasdaq NM:
ALMI), serves the Internet/intranet, IT, and development markets through standard and customized
software solutions. AlphaCONNECT's core technologies include intelligence gathering, data flow
management and smart application technology. AlphaCONNECT also targets the corporate, SOHO
and end-user markets with commercially released products, BusinessVue(TM) and StockVue(TM).
Both products feature fully customizable business content including news, profiles, stock quotes,
SEC filings and more. For further information call (888)785-3370 or visit the company's Web site at
www.alphaconnect.com
###
General Magic, The General Magic logo and Serengeti are trademarks of General Magic, Inc. which may be registered in
some jurisdictions. AlphaCONNECT is a registered trademark of Alpha Microsystems, Inc. All other brands,
trademarks or service marks are the property of their respective owners. |
